European equity markets declined sharply on Thursday after Brent crude climbed above $115 per barrel following Iranian strikes on energy infrastructure in the Middle East.
Key energy sites across the region have increasingly become targets as the conflict between Iran and the U.S.-Israeli alliance moves into its 19th day.
On the economic front, the Bank of England’s Monetary Policy Committee voted “unanimously” to leave its benchmark interest rate unchanged at 3.75 percent.
Data from the Office for National Statistics showed that the U.K. unemployment rate held steady while wage growth slowed in the three months ending in January.
The unemployment rate remained at 5.2 percent during the November-to-January period. Job vacancies fell by 6,000 to 721,000 compared with the previous three-month period ending in November.
Across the region’s major markets, Germany’s DAX Index dropped 2.9 percent, Britain’s FTSE 100 Index fell 2.7 percent and France’s CAC 40 Index declined 2.2 percent.
Banking shares were among the biggest losers, with Commerzbank (TG:CBK), Deutsche Bank (TG:DBK), BNP Paribas (EU:BNP) and Barclays (LSE:BARC) all registering notable declines.
German kitchen equipment maker Rational AG (TG:RAA) also slid after reporting lower fourth-quarter profit due to currency-related pressures.
Real estate company Vonovia (TG:VNA) moved lower as well after announcing a decline in full-year revenue.
Meanwhile, specialty chemicals producer Lanxess (TG:LXS) dropped sharply after reporting a wider net loss for the fourth quarter and unveiling additional cost-cutting measures planned for 2026.
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